Issue link: https://nebusinessmedia.uberflip.com/i/1175838
22 Hartford Business Journal • October 14, 2019 • www.HartfordBusiness.com to the highest standards of our customers. The relationships we develop with business owners are based on earning their trust and providing sound, sophisticated fi nancial advice." Manage wealth Jezowski pointed out that Webster Private Bank's team does much more than assist with planning an exit strategy for the business owner. "When the transaction results in a large amount of liquidity, we conduct a cash fl ow or valuation plan," he said. "Our real value-add is in helping business owners plan and prepare for selling or recapitalizing a business, and to plan for and manage the wealth that is created in the process. We are dedicated to holistically look at global cash fl ow and liabilities in addition to managing assets." In some cases, business owners may have charitable intentions they want to fulfi ll as part of an exit strategy. This may entail establishing a private foundation, a donor advised fund or a large gift to a local community foundation or charity. "We work closely to maximize the tax benefi t of this charitable planning," Jezowski said. "We advocate creating an exit strategy; review it thoroughly to maximize the ability to control your destiny. Without a plan, you lose the ability to make choices," said Jezowski. Unexpected events, such as a serious illness or unexpected death, could complicate the picture. "It's helpful to have an experienced team of advisors. Depending on the situation, we play a specifi c or general role early on in the planning phase." Driscoll reported that business owners should begin exploring options at least fi ve years before a planned exit, although "it's never too early to start." Whether an exit means selling the business, passing it on to a family member or colleague or recapitalizing, the team at Webster Private Bank has the expertise, professional network and fi nancial solutions to make that transition seamless. Disclosure: Investment, trust, credit and banking services are off ered by Webster Private Bank, a division of Webster Bank, N.A. Investment products off ered by Webster Private Bank are not FDIC or government insured; are not guaranteed by Webster Bank; may involve investment risks, including loss of principal amount invested; and are not deposits or other obligations of Webster Bank. Webster Private Bank is not in the business of providing tax or legal advice. Consult with your independent attorney, tax consultant or other professional advisor for fi nal recommendations and before changing or implementing any fi nancial, tax or estate planning advice. All credit products are subject to the normal credit approval process. The Webster Symbol is a registered trademark in the U.S. Webster Bank, N.A. Member FDIC. Equal Housing Lender © 2019 All Rights Reserved, Webster Financial Corporation " " "Our real value-add is in helping business owners plan and prepare for selling or recapitalizing a business, and to plan for and manage the wealth that is created in the process." Sponsored Content WEBSTER BANK INTELLIGENCE SERIES | John M. Jezowski, Senior Vice President, Webster Private Bank | | John H. Driscoll, Jr., J.D., LLM, CFP®, Webster Private Bank Region Market Executive for Hartford and New Haven |